Olympic Steel (NASDAQ:ZEUS) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a hold rating to a buy rating in a research report released on Tuesday morning.

Olympic Steel Stock Down 1.9 %

ZEUS opened at $40.35 on Tuesday. The stock has a fifty day moving average of $44.31 and a 200-day moving average of $55.80. The company has a market capitalization of $449.10 million, a P/E ratio of 10.76 and a beta of 1.52. Olympic Steel has a fifty-two week low of $39.08 and a fifty-two week high of $73.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.43 and a current ratio of 3.77.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The business had revenue of $526.25 million during the quarter. During the same quarter last year, the firm earned $1.24 EPS.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a $0.15 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.49%. Olympic Steel’s dividend payout ratio is presently 16.00%.

Institutional Trading of Olympic Steel

Large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Olympic Steel in the second quarter valued at approximately $58,000. EntryPoint Capital LLC acquired a new position in shares of Olympic Steel during the 1st quarter worth $61,000. AJOVista LLC bought a new stake in shares of Olympic Steel during the 4th quarter worth $75,000. XTX Topco Ltd acquired a new stake in Olympic Steel in the second quarter valued at about $201,000. Finally, Cornerstone Investment Partners LLC bought a new position in Olympic Steel in the first quarter valued at about $207,000. 87.07% of the stock is owned by institutional investors and hedge funds.

About Olympic Steel

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.